Iran is to supply water to five Gulf states to counteract their water shortage, reported the Iranian News Agency (IRNA), quoting an official as telling a local paper.

Vice-President Hassan Habibi told the government-run daily ‘Iran’ that " Kuwait, Qatar, Saudi Arabia, Bahrain and the United Arab Emirates (UAE) are among eight countries facing water shortage in the Middle East region.

He said that it is beneficial for Iran and the regional security to supply water to the five countries.

Earlier this month, the Kuwaiti government said it is considering a project to transport fresh water from Iran to the Gulf state, said IRNA.

Iran's energy ministry has said Iran can export one billion cubic meters of water to the southern Gulf littoral states annually, and has submitted a related plan to the government, according to the agency. Sources told the agency that Iran is prepared to go ahead with a plan to sell drinking water to neighboring Kuwait.

The project, to be completed within the next five years, will be carried out by a consortium of investors from Iran, England and Kuwait, said IRNA.

It added that some 760 million liters of water per day will be supplied to the emirate by the Islamic Republic.

The total investment on the project is estimated at two billion dollars, said the agency – Albawaba.com